AptarGroup, Inc. (ATR - Free Report) recently entered into a partnership with PureCycle Technologies, as it looks to integrate Ultra-Pure Recycled Polypropylene (UPRP) into dispensing applications.
Invented and licensed by Procter & Gamble (PG - Free Report) , PureCycle’s ground-breaking, patented recycling process removes color, odor and any other contaminants from plastic-waste feedstock to transform it into virgin-like UPRP resin. Interestingly, this process makes recycled plastics more accessible to companies willing to use a sustainable, recycled resin.
AptarGroup brings UPRP into its dispensing systems portfolio through partnering with PureCycle. Further, UPRP aims to satisfy customers’ needs for sustainable packaging, particularly in the food and cosmetics markets. Hence, the strategic affiliation with PureCycle supports AptarGroup’s vision for a circular economy, where materials and products are recycled without being reduced to waste.
While accessing UPRP resin, AptarGroup will propose solutions to help its customers achieve their sustainable packaging goals. Further, the partnership ensures more opportunities for AptarGroup for a circular-product life cycle.
Per the Transparency Market research, the global polypropylene market is valued at more than $80 billion and is on track to reach $133.3 billion by 2023. Furthermore, the Association of Plastics Recyclers (APR) has identified that North America has major demand for high-quality recycled polypropylene.
AptarGroup is committed to create top-quality, sustainable products and thus, has been partnering with several sustainability organizations for sustainable products within the packaging industry. The company’s all-plastic recyclable solutions are made with post-consumer recycled resin and available in North America and Europe. Moreover, the company continues to explore additional opportunities for sustainable resins. Also, AptarGroup will support its customers’ goal to achieve 100% reusable packaging by 2025.
Recently, AptarGroup entered into a partnership with Loop — TerraCycle’s global circular shopping platform — which will enable customers to purchase their products for reusable packaging.
AptarGroup remains committed toward expanding its business through acquisitions to broaden the scope of technologies, geographic presence and product offerings. In sync with this, the company acquired CSP Technologies — a leader in active packaging technology based on proprietary material science expertise. This June, AptarGroup acquired Nanopharm and Gateway Analytical, which will likely help expand its service portfolio that supports pharmaceutical and biotech customers.
AptarGroup, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
AptarGroup currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the Industrial Products sector are Zebra Technologies Corp. (ZBRA - Free Report) and Avery Dennison Corp. (AVY - Free Report) . While Zebra Technologies currently sports a Zacks Rank #1 (Strong Buy), Avery Dennison carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zebra Technologies has a projected earnings growth rate of 16.71% for the current year. The stock has gained 19% in a year’s time.
Avery Dennison has an estimated earnings growth rate of 8.42% for 2019. The company’s shares have rallied 11.5% in the past year.
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